Are the good times over? Download PitchBook’s Report here. Private equity’s calling card, from its early days in the 80s through the mid-2000s, has been its ability to beat the market. The asset class pretty handily beat stocks in bull and bear markets alike. Until 2006, LPs in PE funds had at least a 50/50 shot…
US institutional market flex activity has favored issuers so far this month September deals in the institutional loan market have so far been well received by investors. The Flex Factor has tracked 6 flexed deals so far this month with 5 of them being in favor of issuers. This has allowed for an issuer friendly…
EBITDA Addbacks as Percentage of PF Adjusted EBITDA (LTM) Contact: Steven Miller
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com
More debt funds in market, more questions for investors A large number of vehicles are seeking capital, and fundraising has been strong – but that isn’t a guarantee the boom times will continue. The number of private credit funds in market has been on a steady upward trend, according to PDI data, reflecting the enduring…
Deep inside a cave some 200 miles east of Cape Town, South Africa, archeologists uncovered ancient markings that represent the earliest evidence of human drawing. The hashtag precurser – six parallel lines criss-crossed by three diagonals – was etched by a prehistoric artist over 73,000 years ago with a red ochre crayon on a small…
New issue first and second lien spreads are on the rise, though the differential is shrinking.
Source: Cliffwater Direct Lending Index and BofA Merrill Lynch US High Yield Effective Yield The red line in the chart is the *Cliffwater Direct Lending Index (CDLI) current yield, which is based on the investment income of the underlying assets held by public and private BDCs. BDCs invest in middle market companies, and the Index…
Private Debt Goes Global As the alternatives assets industry continues to grow, Preqin is launching an initiative examining the future of alternatives. In conjunction with key industry participants, Preqin takes a five-year look into the future to see where the private debt market will be, what changes fund managers are planning for and how investors…